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Repeal of Federal Estate and Generation-Skipping Transfer Taxes

This bill would eliminate federal taxes on inherited property and transfers to grandchildren or later generations. It also updates the rules for taxing gifts made during a person's lifetime, increasing the amount you can give away tax-free.
Key points
No federal tax on property inherited from someone who dies after the law takes effect.
No federal tax on wealth transferred directly to grandchildren or later generations after the law takes effect.
Increases the amount you can give away during your life without paying federal gift tax and adjusts this amount for inflation.
article Official text account_balance Process page
Expired
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No votes cast
Additional Information
Print number: 117_HR_1712
Sponsor: Rep. Smith, Jason [R-MO-8]
Process start date: 2021-03-09
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Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Death Tax Repeal Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1712.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-09.

What are the main provisions?

Key points include:

  • No federal tax on property inherited from someone who dies after the law takes effect.
  • No federal tax on wealth transferred directly to grandchildren or later generations after the law takes effect.
  • Increases the amount you can give away during your life without paying federal gift tax and adjusts this amount for inflation.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Smith, Jason [R-MO-8].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Taxes